Focus Financial Network Inc. Sells 559 Shares of Eaton Co. plc (NYSE:ETN)

Focus Financial Network Inc. reduced its stake in Eaton Co. plc (NYSE:ETN) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,638 shares of the industrial products company’s stock after selling 559 shares during the period. Focus Financial Network Inc.’s holdings in Eaton were worth $544,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ETN. Creative Planning boosted its holdings in shares of Eaton by 2.7% in the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after acquiring an additional 4,705 shares during the period. Vontobel Holding Ltd. boosted its stake in Eaton by 52.6% during the third quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock valued at $8,820,000 after buying an additional 9,174 shares during the period. B.O.S.S. Retirement Advisors LLC boosted its stake in Eaton by 18.4% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock valued at $421,000 after buying an additional 197 shares during the period. SPC Financial Inc. boosted its stake in Eaton by 17.8% during the third quarter. SPC Financial Inc. now owns 11,769 shares of the industrial products company’s stock valued at $3,901,000 after buying an additional 1,779 shares during the period. Finally, Rheos Capital Works Inc. boosted its stake in Eaton by 233.3% during the third quarter. Rheos Capital Works Inc. now owns 50,000 shares of the industrial products company’s stock valued at $16,572,000 after buying an additional 35,000 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.7 %

ETN opened at $307.70 on Friday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a market cap of $121.60 billion, a P/E ratio of 32.39, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $339.72 and its 200-day moving average price is $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the firm posted $2.55 EPS. On average, equities analysts expect that Eaton Co. plc will post 12.04 EPS for the current year.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.